To avoid regulatory scrutiny and risk associated with in-house processing
First National Bank of South Carolina, a community bank in the Charleston area, has selected the Precision bank platform from Fiserv to provide an enterprise-wide technology solution. In addition to Precision, First National Bank of South Carolina chose Director, Business Process Manager and Internet Banking for Precision and CheckFree RXPSM for bill payment. Reportedly, after 24 years of processing in-house on a previous platform, the bank chose outsourced processing on the Precision platform.
Ron Anderson, the bank’s president and chief executive officer, said: “The regulatory scrutiny and risk associated with in-house processing became overwhelming for us. Fiserv offered the best solution to meet our needs now and into the future. The Precision components are very user-friendly, and something our employees can learn quickly. We were also impressed with the breadth of products and innovative services available from Fiserv.”
Mike Young, president, Bank Solutions and Credit Union Solutions, at Fiserv, said: “First National Bank’s long history of service to the people of South Carolina is impressive, and Fiserv is proud to partner with this well-capitalized and growing financial institution. Their selection of the Precision platform from Fiserv will undoubtedly help them achieve even greater efficiencies, increased profitability and continued growth.”